Maine Real Estate Law questions & Answers 100% Correct(GRADED A+)

A client must be informed as to the real estate brokerage agency's appointed agency policy and: - ANSWERGive written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any information to one party that the licensee gains from the other party if the information is relevant to the transaction except: - ANSWERConfidential negotiating strategy not disclosed in the sales offer as terms of the sale. The Maine Real Estate Commission may not impose disciplinary sanctions when a person is guilty of: - ANSWERInnocent misrepresentation. Joanna has been an active associate broker licensee in Maine for 7 years. She may: - ANSWERServe on the Maine Real Estate Commission as an industry member. The Real Estate Brokerage Relationship Form #3 does not need to be provided by a licensee to a prospective buyer: - ANSWERInterested in purchasing land without a residential dwelling unit. A licensee must provide a copy of a newly signed listing agreement to his or her designated broker within: - ANSWER5 calendar days after execution of the document. A buyer's agent anticipates receiving a bonus of $3000 from the seller of a property. Which of the following is true? - ANSWERThe buyer's agent must disclose this bonus in writing to the buyer client. To apply for an associate broker license, the licensee must: - ANSWERAttend 60 hours of training. The maximum amount of time that a listing agreement may "carry over" is: - ANSWER6 months. Which government entity has jurisdiction over zoning for over 10 million unincorporated acres in Maine? - ANSWERLUPC George is a licensee who is convicted of embezzlement of funds from his employer. George must: - ANSWERReport his conviction to the Maine Real Estate Commission within 10 days. An auctioneer needs a real estate license to: - ANSWERTake custody of the earnest money from the winning bidder. An attorney must hold a real estate license if: - ANSWERThe attorney is regularly engaged in real estate brokerage. Jill wants to install a septic system on her lakefront property. The property must: - ANSWERHave at least 100 feet of frontage on the lake. Andrew is a veteran of World War II. He may be eligible for a property tax exemption of: - ANSWER$6000. Jenny wants to apply for a sales agent license. She must be: - ANSWERAt least 18 years old. Peter's sales agent license expires on June 30. Which of the following is true? (Which is the BEST answer?) - ANSWERHe can apply for a one year extension due to do